Ahmedabad, 31st January 2023 : GHCL Limited, India’s leading Chemical & Spinning Company, today announced its financial results for Q3FY23.
Commenting on the financial performance, Mr. R S Jalan, Managing Director, GHCL said, “We have reported a robust financial performance during the quarter under review despite one-time production loss of 15k MT attributed to plant maintenance in October. The inorganic chemicals segment continued to perform well with a 38% increase in revenue mostly due to positive pricing scenario and strong domestic demand especially in the glass segments. We received the regulatory approval to enhance our production capacity from 11L MT to 12L MT, which will deliver operational and strategic benefits to the business. Soda Ash is an important raw material for various industries and enhancing production capacities in India will help the industry contribute towards India’s growth story and creating an “Atmnirbhar Bharat”.
The Textiles business did face some headwinds due to price and demand corrections. We believe that the business shall gain positive traction in next 2-3 quarters as the business sentiments turn positive.
We will continue our focus on various growth initiatives and sustainable business practices. We are positive that our experience and expertise will ensure industry leading value creation in the years to come.”
Q3FY23 VS Q3FY22 (Standalone Performance)
• Net Revenue grew by 28% to Rs.1289 crores as compared to Rs.1006 crores in the corresponding quarter ended Dec 31, 2021
• EBIDTA grew by 50% to Rs.376 crores as compared to Rs.251 crores in the corresponding quarter last year
• Net Profit (PAT) grew by 62% to Rs.248 crores as against Rs.153 crores in the corresponding quarter last fiscal
Business Segments (Q3FY23 VS Q3FY22)
• Inorganics Chemicals division’s revenue grew by 38% to Rs.1057 crores in Q3FY23 as compared to Rs.765 crores in the corresponding quarter in FY22
• Textiles business revenue declined by 3% to Rs.233 crores in Q3FY23 as compared to Rs.241 crores in the corresponding quarter in FY22
Recent Development
• The company has received requisite regulatory consent amendment for increase in its Soda Ash production capacity from 11, 00,000 (eleven lakh) Ton per annum (TPA) to 12,00,000 (twelve lakh) TPA as per consent condition.
